, 1887-10-01

LIFE DEPARTMENT.-During the year new
proposals were. accepted for 9603, 103, OF
which amount 1888, 103 has been completed,
and the corresponding annual premiums
obtained to the closing Of the accounts were
610,647 Is Sd. The proposals declined during
the period amounted to 96O, 008. The total
income from premiums, after deducting re-
assurances, amounted to e248, 400 It's I'D and
the interest received from investments, exclu-
sive of that OIL the annuity funds, was e123,
O46 los I'd. The claims during the year were
BY death Original sums assured, $780, 98
los 3D. bonus additions thereon, e21, 785 les.
By matured policies Gncluding children's en-
dowments) Original sums assured, 914,381
6s Sd bonus additions thereon 81, 778
Total, e198, 733 18s cd.
In the annuity branch the purchase money
received for new annuities, together with the
premiums on contingent %annulties, amounted
to Sc, 1923 lbs lid, and the interest to e9,S07
9s Id. Fifty annuities have expired during
the year, the annual payments on which,
amounted to 81, 668 IS.
After payment of oil claims, annuities,
bonuses in cash, and expenses of every de-
scription, a balance of e108, 1913 los Sd has
been added to the life funds, making the
total accommodations of the life and annuity
branches Of the company 93,257, 609 8s I'D.
PROFIT AND Loss.-The amount at the
credit of the profit and loss account, after
payment of the dividend and income-tax for
the year 1885, was G211, 145 12s Cd, to which
have been added fire profit for the year,
el46, 430 los interest, SGT ,082 los I'd
total, e424, 658 los 4d. From this has been
deducted amount written off the Dublin
building, 6 5000. From this amount your
directors have carried to reserve fund 91OO, 900,
onA &bov hova 1naDoa1 tho nrooouA
h.ting opportunity for inaugurating a super
annuation fund, and have carried G25, 900 to
a separate account for the purpose. The
fund is intended to be employed in the future /
for the benefit of deserving officers who have
been long in the service of the company and
have become incapacitated. But while the
amount is specially appropriated for this
object, it will continue to be the property of
the company, and the directors will retain
absolute discretion in its application. Total,
&294, 658 los 4d.
DIvIDEND.-The profits from the fire de-
partment enable the directors to recommend
an increased dividend of Is per share for the
year, and, with the view of more nearly
equalising the half-yearly dividends they paid
in February last an interim dividend of 12s
per share from fire profits, in addition to
which they now recommend a payment of
los further dividend from the same source,
and 3s per share from the balance of undivi-
ded life profts-all free of income-tax-
which will absorb ,e144 ,772 los, leaving q
balance at the credit of the account to be
carried forward Of G149, 1856 9s 4d.
FUNDs.-After providing for payment of
the dividend, the funds of the company will
stand as follows Capital paid up, e289, 545;
fire fund, e550,000; confagration fund,
100000: reserve fund, 81, 100000; life
funds, s. ,257, 500 SIS Id; approximation fund,
$4,000; balance of profit and loss, e149,886
9s 4d total, SIS, 672, 040 It's Sd.
D1REoToRs.-The following directors now
retire, and are eligible for reelection, viz. =
Charles J. Bushell, T. D. Horribly, George
II. Horsfall, and M. II. Maxwell,
RALPH BRocKLERANK, Chairman.
Mr.. J. II. M'Laren (manager) read the
auditors report as follows =
We hereby certify that we have carefully
examined the books of the Royal Insurance
Company, also the bankbooks and vouchers,
and that we have compared the same
with the balance-sheets signed by US; and
we declare that such balance-sheets repre-
sent fully the financial position of the Royal
Insurance Company on the 31st December
last. We have also examined and counted
every security, including life policies, title
deeds, notes, bonds, railway shares, Govern
ment stock, &C., held here also the certif-
Gates of deposit of the stocks of the United
III - ~ - ~ II